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Billionaires Who Have Supported Trump or Harris in the 2020 US Presidential Election

Billionaires Who Have Supported Trump or Harris in the 2020 US Presidential Election

CointimeCointime2024/10/29 12:55
By:Cointime

Forbes has identified more than 100 billionaires who have supported either former President Donald Trump or Vice President Kamala Harris, with the majority backing Harris. While some billionaires, such as Elon Musk, have publicly endorsed Trump, others like Warren Buffett and Mark Zuckerberg have remained neutral. Despite Harris's criticism of policies favorable to billionaires, many ultra-wealthy individuals may support her due to her promotion of fair and predictable policies that support a stable business environment. A recent survey of millionaire investors found that technology, healthcare, and sustainability stocks are the sectors most likely to benefit from a Harris win, which may explain the support of many Silicon Valley billionaires.

Several billionaires, including Jeff Bezos, Ken Griffin, and Bill Gates, have not endorsed or financially backed any presidential candidate. Bezos celebrated Biden's election in 2020 but has not publicly endorsed him. Griffin has stated that he is "torn" and will not vote with a "smile on his face" as he does not believe either candidate has quality policies or leadership. Gates has not officially endorsed a candidate but spoke positively about Harris in a July interview.

Several wealthy individuals, including Microsoft co-founder Bill Gates and JPMorgan Chase CEO Jamie Dimon, have been rumored to support Democratic presidential candidate Kamala Harris. Gates reportedly donated $50 million to a Democratic political action committee supporting Harris, while Dimon has privately endorsed her and expressed openness to a role in her administration. However, not all wealthy individuals have taken a public stance on the election, including Berkshire Hathaway CEO Warren Buffett and Google co-founder Sergey Brin.

Billionaire Ray Dalio, founder of Bridgewater Associates, has refrained from endorsing either candidate in the US presidential election, stating his preference for a more moderate candidate. Sergey Brin, co-founder of Google, has not publicly expressed any feelings towards the election during this cycle, although he found Trump's election in 2016 "deeply offensive" as an immigrant. Larry Ellison, the second-richest person on earth and a past donor to Republican causes, has remained quiet during the final months of the election cycle. Meanwhile, 82 or more billionaires are backing Democratic candidate Kamala Harris, with 28 donating $1 million or more to groups supporting her, including Michael Bloomberg, Neil Bluhm, and Sheryl Sandberg.

Several billionaires have donated to Kamala Harris' campaign during the third quarter, including Tim Draper, J.B. Pritzker, Tyler Perry, Bruce Springsteen, and Taylor Swift. Michael Bloomberg has also donated $50 million to the same non-profit organization supporting Harris, bringing his total commitment to Democratic causes to nearly $100 million. On the other hand, 52 billionaires have been identified as supporters of Donald Trump, with 26 of them donating at least $1 million towards his election efforts. Elon Musk gave $75 million to his pro-Trump America PAC, and another $43.6 million to a pro-Trump committee from Oct. 1 to Oct. 16, becoming the second-most prolific donor in Trump’s camp this year.

Nelson Peltz, asset manager at Trian Partners, has stepped down from his position without comment. Other Wall Street billionaires, such as Daniel Loeb and Stanley Druckenmiller, have suggested that the stock market is favoring Trump, but have not publicly endorsed him or made significant donations to his campaign. Hedge fund billionaire Leon Cooperman has stated that he will not be voting for either major candidate. Forbes has published articles on both Trump's financial gains from politics and Harris' past campaign supporters.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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